LLL (NYSE) -$11.54 or -7.76% dragging the entire defense sector down. Gives another chance at bearish position on LMT.
Our consensus called for third quarter EPS of $1.82, and the company reported adjusted EPS of $1.88.
The company posted revenues of $2,505 million in third quarter, compared to our consensus estimate of $2,561 million.
Reiterate, For Speculative Accounts Only, recommend purchase of LMT 1/20/2017 $225 out of the money puts, bid $1.70, ask $2.20. Try to split the difference for $1.90-$1.95.